Forum Replies Created
- god_of_money wrote:Cutting tax will reduce the interest rates or slow down the economy… Maxxi you must live in la la land…
Which professor of economy teach you about this?Maybe he was suggesting they may put less pressure on wages, however this will have little effect when you have every other profession like doctors,engineers,teachers ect demanding 10-50% wage increases… and in some cases already governments caving in to these demands, welcome back UNIONS
Freya joined 28/5 @ 3:19pm
Phillip joined the same day, 14 minutes later.yarpos wrote:HiI dont understand……how do tax cuts slow down the economy? doesnt injecting more spendable cash into the hands of the masses keep it percolating along?….and encourage the RBA to take it away with interest rises
That was a political move by Rudd, which ultimately may backfire on him
kate2006 wrote:I have now revealed the house is in Ipswich Qld. I was worried someone may beat me to it.I will try and condense the background.
A few weeks ago I had seen a beautiful house for sale in Ipswich and saw it was up for auction. Anyway I forgot about it then found out it was going for about $650,000. I soon noticed there were a lot of renovations going on in the street. The suburb is one of the top suburbs in Ipswich.
The other day we had a look at this house and offered $470,000 (as its a buyers market at present) but were told its going back on the market at $595,000.
Accross the road from this beautiful house I spotted the worst ( i dont think its the worst now ) house in the street. Its a workers cottage colonial about 80 to 100 years old. I bought it for $210,000 yesterday . The cottage is on the corner so has two rd frontage
This cottage is for our two daughters. I will make up a web site of houses in this street to show how beautiful they are.
So sorry I said it was in Vic originally .
I am hoping to possibly buy another one in the street.
I have found out that a local businessman has bought up quite a few houses and he is the one doing all the renos.
The agent said they are hoping to get 1 million for one of the houses in the street. That wont happen in the current market
595k for a house in Ipswich? they must be dreaming, it may be the premier street, however it is still only Ipswich. The same kind of money would get you a nice house muh closer to the cbd.
I agree with your comments, however to call them thieves & robbers would imply they had no CHOICE but to hand their money over, the fact is they did have a choice, and some responsibitly must lie with the investors, It has happened before and will continue to happen, with even so called "blue chip" companies not immune.
Hmmm,
Your name is Divorcee, this is your first post, and you're offering a "good property" for the "right investor", sounds just a little suswealth4life.com wrote:Oh great are we allowed to advertise property investment seminars on this web site …In the week end papers I saw 3 FULL page adds for the same stuff … secrets … seminars … how to …. oh god not again isnt this the 21st century … aaahhhhhhhh!!!!!!!
This site is getting tacky if Steve allows this to go on … not very elegant and classy any more … where are all the oldies????
D
I would have to agree with you there, although I'm not an "oldie" I used to enjoy the content. The only posters seem to be ads, or GHPC forum rejects. Somersoft has much better content.
Qlds007 wrote:Oh seank you sinic you ………. could be a bargain you will never now.Yes Richard, I had considered it , but then thought to achieve the same results in quicker time, I'd be better off flushing my life savings down the toilet.
Mary Wilson wrote:Hi Guys.
Sorry to burst the bubble of negativity, but i signed up with Lending Institute six months ago, and it has changed my life. I know that sites like this can be great for advertising, and I am sure that Trent is a great broker, but i changed my loan from a CBA 100% offsett to a Lending Institute loan (And belive be there is a BIG difference!), there was an initial fee of just under $7,000 that I had doubts about also but there monitoring program has become a part of the way i look at my money and my mortgage and my consultant is a like a family member now. Most importantly we have reduced more off our loan then ever before.
Best of Luck with it all!
Mary W7k set-up fees and a higher interest rate? sounds real SUS to me. BEWARE!!
Paul Graveling wrote:Hi guys. Just browsing around and came across this website. Thought I'd spread some news.I have just agreed to buy 3 duplex (pairs) of 3 bed 2 bath houses in the USA for $32,000 downpayment each and will get a payment back from the federal government of $73,000 for each, positive cashflow of over $40,000 per duplex.
I went to a presentation last week about property in the Go Zone in the USA. If you have not already heard about it, this is an extended area of the southern USA which was affected by hurricanes Katrina and Rita a couple of years ago. The US Government is pouring billions of dollars into the area to revive the economy and provide low cost housing for displaced residents and newcomers entering the area to work. They need to build over 60,000 properties to satisfy demand.
In certain areas of Mississippi, the development authority have established a Small Rental Assistance Program (SRAP) to provide affordable rental properties for everyone during these times of high rental demand. What I like about the deal is that the incentive is from the US federal government and not a fake cashback scheme from a developer. I think this is such a good deal that I want to let as many people know about it as possible. I don’t want to sell it to them, but let them do their own research and deal with the companies directly themselves.
There is plenty of info available on the internet about the area and the government funding. The developer is represented by Danny Silver who is well respected in the US property market, his website is http://www.propertydirectgroup.com which is a good place to start your research. His UK based partner has a website http://www.investmentpropertydirect.co.uk which is under construction and I understand is almost complete. It can currently be viewed and used to register interest, and you'll get some E-info sent back to you.All the paperwork to buy is sent out by E-mail from the USA so I don't see why any investor anywhere in the world can't become involved. I'll try to find out if they have a representative down under.This is such a no-brainer deal for me that I have committed to 6 properties which is the maximum number for which an individual investor can get the SRAP funding. So by investing $96,000, which covers a 10% deposit and all closing costs, I will have 6 brand new properties to rent in a high demand area and $219,000 back from the US government. Where else can you find a deal like this? Check out the websites and do your own research into the Go Zone and SRAP.
1 word – SCAM
Scamp wrote:This list wasn't meant as a discussion. It was meant to list the things that can ( or have gone ) wrong while property investing. I must thank the first reply for doing that, he gave me an insight into a few things I hadn't thought about. Please refrain from posting replies that don't add things to the list of things going wrong.michaelparis wrote:continual focus on the pain, and negativity of a "snapshot in time" without due regard for the bigger picture does not in my opinion serve any purpose, other than to scare people.This is not a snapshot in time, it's a list of things that go wrong in good times, as well as the current bad times.
What's wrong with warning people about the pitfalls of investing ? I think this forum is called "Help Needed!" and this is EXACTLY the form of help that new property investors need. Even experienced successful investors like me ( yes, I'm a property investor ) can still learn from this list.I'm warning people about the pitfalls. And I'm warning them that property investing is risky business in which things can turn and go terribly wrong. People need to be warned that things can take a turn , and that they will not be bailed out by anyone. If they accept these risks, and they accept the risks in this post, only then they should consider starting the investment.
What I have seen so far is a lot of smalltime no-brainers, carelessly and blindly getting into property, without knowing or acknowledging the risks involved : And luckily for them there's people like me here to WARN these suckers who are about to lose all their belongings to some real-estate snakes.
Listing problems which can occur while investing doesn't take alot of brains, you mentioned storms…… mate I can list every natural disaster there is, what would the point be? wouldn't you agree providing the solutions to these problems is much more helpful?
Scamp wrote:I thought it was a good place to put the list of things that can go wrong, so people who want to start investing can learn and see it's not all rosecolored free money :
I'll give it a headstart , please let us know if you have more ( please don't post things that have already been said )1. House prices can go down
-2.Renters can stop paying rent
-3 Legislation can change so you get less tax benefits
– 4Legislation can change so you get less rent
– 5Legislation can change so you can borrow less money
– 6You can can mentally or physically disabled
– 7Your house can burn down
-8 Interest rates can go up
– 9Your neighborhood can lose it's appeal
-10 LEPs and DEPs can be changed affecting your home
– 11Your house can be flooded by river or ocean floods
– 12Storms can cause leakage in your home
-13 Storms can destroy your house1. Only if you sell
2. its called landlord insurance
3. Not likely with this conservative Labour governemnt4. As above
5. As above
6. You could also get run over tommorrow and die, your point?
7. Building insurance
8. If your're smart you would have saved for this
9. Not likely to happen overnight, history has shown its more likely the opposite to happen ie- council investing in run-down suburbs increasing prices
10.11. Building insurance
12. as above
13. as above
sure there is risks with property as in any investment, but for every risk there are measures you can take to minimise loss.
sounds too dodgy and risky to me – why invest in an unknown, when you can profit in your own country.
Annican great first post, what section of the company do you work for?
michaelparis wrote:Isn't the power of synchronicity amazing, both Mike and Sandy with their query and GregA with his maiden post/response have joined on the same day (today).
Please share the good fortune that they taught you Greg so that we may all learn and become financially secure just like you. We are all here to share the learning and would appreciate your further information.
good pick-up, won't see them post again…………
so lets get this right…….
500k to be part owner of an overseas villa?
when we sell you get 20% capital gain?no offence but sounds like scam of the century.
hmmmmmmmm.. smells like a SCAM!!
aquarius69 wrote:I dealt with Premium Finance. Went through the whole process of the telemarketer contacting me, them flying me to Melbourne at a fee of $295 and their staff doing a presentation. Yes, I found they do charge a fee for their service but believe it is well worth it. They do absolutely everything for you and direct you in the right way. I have found their service nothing short of fantastic and would not hesitate to recommend them to any potential investors.
Aquarius
Wow aquarius great FIRST post, they must be good tell me more
still many areas with good propspects and medians under 200k
Broken Hill NSW 125k
Mines/tourism/wind farmCharters Towers Qld190k
new gold mine/educationElizabeth SA 180k
rail link to cbd/new industryGeorge Town Tas 170k
New pulp mill and power stationGippsland Vic 128-220k
new resource projects/transport linksGlen Innes NSW 155k
transport links/gemstone minesInverell NSW 185k
Sapphire mines/tourismMelton Vic 180k
pop and business links/ transport linkMildura Vic 145-205k
Diverse economy/new solar power stationMoree NSW 175-225
agriculture/gas/tourism/railParkes NSW 195-208k
transport hub/development/miningZeehan Tas 90k
mining resource discovery
